23,551 Shares in Sirius XM Holdings Inc. $SIRI Acquired by Cadence Wealth Management LLC

Cadence Wealth Management LLC bought a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,551 shares of the company’s stock, valued at approximately $930,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SIRI. Valeo Financial Advisors LLC increased its holdings in shares of Sirius XM by 3.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 10,916 shares of the company’s stock valued at $322,000 after acquiring an additional 340 shares during the period. Altshuler Shaham Ltd lifted its stake in shares of Sirius XM by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after purchasing an additional 417 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Sirius XM by 33.7% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837 shares of the company’s stock worth $55,000 after purchasing an additional 463 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Sirius XM by 36.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after purchasing an additional 493 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in Sirius XM by 5.4% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,862 shares of the company’s stock valued at $291,000 after purchasing an additional 509 shares in the last quarter. Institutional investors own 10.69% of the company’s stock.

Insider Activity

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the transaction, the insider directly owned 20,163 shares of the company’s stock, valued at $601,462.29. This trade represents a 50.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonelle Procope sold 16,672 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the completion of the transaction, the director directly owned 18,354 shares of the company’s stock, valued at $550,069.38. The trade was a 47.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.27% of the company’s stock.

Sirius XM Stock Up 1.1%

Shares of SIRI stock opened at $28.69 on Friday. Sirius XM Holdings Inc. has a 1-year low of $19.76 and a 1-year high of $32.66. The stock’s fifty day moving average price is $29.58 and its 200 day moving average price is $26.23. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.46 and a quick ratio of 0.46. The company has a market cap of $9.67 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts expect that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. The ex-dividend date is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. Sirius XM’s dividend payout ratio is 43.20%.

Analyst Ratings Changes

SIRI has been the topic of several analyst reports. UBS Group set a $30.00 target price on Sirius XM in a research note on Wednesday, July 29th. The Goldman Sachs Group reissued a “neutral” rating and set a $32.00 price target on shares of Sirius XM in a research report on Friday, August 7th. Guggenheim reaffirmed a “buy” rating and issued a $35.00 price objective (up from $34.00) on shares of Sirius XM in a research report on Friday, July 31st. Evercore set a $28.00 price objective on shares of Sirius XM in a research note on Friday, May 1st. Finally, Bank of America reiterated an “underperform” rating on shares of Sirius XM in a research note on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.92.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.